Inflation in Chile

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The inflation in Chile has been a significant issue in the economy of Chile in the 20th century. In the 2020s it surfaced as an economic problem again during the second presidency of Sebastián Piñera (March 2018–March 2022) and continues beyond it. This inflation has been attributed to a series of private pension fund withdrawals allowed by the Congress of Chile in response to the economic hardships of the COVID-19 pandemic in Chile.^[1] Besides this, food prices are held by the Food and Agriculture Organization to have increased as consequence of the 2022 Russian invasion of Ukraine.

Central Bank autonomy, inflation targeting and counter-cyclical fiscal rules are important elements in the Chilean state policy to keep inflation low.